Research Nester published a report titled “Global High Temperature Elastomers Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global high temperature elastomers market in terms of market segmentation by type, and application.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The elastomers industry is growing on account of the factors such as increased adoption and application of elastomers in various end-use sectors such as automotive, medical, consumer goods, and others. In 2019, the global high-temperature elastomers market garnered USD 8760.5 Million, and by 2028, the market is expected to touch USD 14220.7 Million with a CAGR of 6.84% over the forecast period, i.e., 2021-2028.
On the basis of type, the global market is divided into silicone, fluorocarbon, perfluorocarbon, fluorosilicone, and others, out of which the perfluorocarbon segment is estimated to grow with the highest CAGR during the forecast period.
Regionally, the global high-temperature elastomers market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific market accounted for the highest market value (USD 3946.6 Million) in 2019 and is further projected to grow significantly during the forecast period on the back of significantly large industries for automobile parts, pharmaceuticals, and aerospace. The industry uses high-temperature elastomers as their raw material.
Increasing Adoption of High Temperature Elastomers to Boost the Market Growth
The application of high-temperature elastomers for sealing and non-sealing applications has increased greatly over the past few years on account of the advantage offered by these elastomers. This is expected to propel the market growth over the forecast period.
However, factors such as the high cost of manufacturing and material-based disadvantages are estimated to negatively affect the growth of the market in upcoming years.
This report also provides the existing competitive scenario of some of the key players of the global high temperature market which includes company profiling of Wacker Chemie AG (ETR: WCH), Dow Silicone Corporation, Momentive Performance Materials Inc.,3M(NYSE: MMM), Shin-Etsu Chemical Co., Ltd., Daikin Industries Ltd.(TYO: 6367),DuPont de Nemours Inc. (NYSE: DD),Solvay S.A. (EBR: SOLB), KCC Corporation(KRX: 002380),and StockwellElastomerics Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global high temperature market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.